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City controller warns General Fund footing is narrowing as 2025 books close
Summary
City Controller George Hargrove and Deputy Controller Rob Lange told the Minneapolis Budget Committee that the city's nongeneral funds held up in 2025 but the General Fund fell from about $209 million to roughly $140 million, is only slightly above the 17% minimum, and is forecast to drop further in 2026 absent changes.
City Controller George Hargrove told the Minneapolis Budget Committee on May 4 that the city finished 2025 with a mixed picture: "Our nongeneral fund is actually, I think, doing quite well in most areas," he said, but he cautioned that "the General Fund ... is starting to approach its minimum balance requirements." Hargrove said the fourth-quarter report is a point-in-time accounting while auditors complete final adjustments and that the Annual Comprehensive Report will provide final numbers later in June.
Deputy Controller Rob Lange walked members through the General Fund drivers. He said the city began 2025 with about $209 million…
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